A heat pump would have the added bonus of doubling as an air conditioner in the summer {vitally important in a big old Vicky with no insulation}.

The archer (insurance) won't pick off every bad guy that tries to get in, so having the walls and moat is vital.

Based on the (lack of) vital information you've provided and the fact that you're not asking the right questions, I would highly recommend that you hold off putting in any offers until you are clear on how to analyze these types of deals.The questions you need to answer before anyone can tell you if this is a reasonable offer/deal are as follows:- What is your exit strategy?

More short-sales and foreclosures from folks who will received modification that really just gave them temporary relief.

Many factors play into determining value, not many comps would have such a facility, the style as adapted to the home is considered, the functional utility as a residence may be less as well.I'd first call your zoning people and see if 5 or 6 kids requires a zoning variance.Having daycare services or other business activities in a residence is possible with conventional loans, but you can cross the line depending on the perceived liabilities of a business, any significant modifications to a property, public access and other aspects can cause financing issues.

The archer (insurance) won't pick off every bad guy that tries to get in, so having the walls and moat is vital.

Or, do a modification and reduce the interest.I ran the comps and only shows 3 houses, one pending for $119,900 and the other two sold.

Welcome to BP Ryan.You're off to a great start, having a mentor is absolutely vital if you want to lessen the bumps on the head from the school of hard knocks.

There is about 3k cushion if you need to go a bit higher.Much Longer Answer:The ARV is a vital number here, and needs comps to be validated.

Your point about the markets is vitally important.